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Asiasons Capital Ltd's Asiasons Investment Ltd Announces Acquisition Of 70% Of Issued Share Capital Of Hub Media Group Pte Ltd


Wednesday, 6 Mar 2013 08:50am EST 

Asiasons Capital Ltd announced that its wholly-owned subsidiary, Asiasons Investment Ltd (the Purchaser) has, on March 6, 2013, entered into a sale and purchase agreement (the Agreement) with Mr Balhetchet Caesar Kevin (the Vendor) for the acquisition of 105,000 ordinary shares (Sale Shares) representing 70% of the issued share capital of Hub Media Group Pte Ltd (Hub Media), for a consideration of USD4,550,000 (Consideration) on the terms and subject to the conditions of the Agreement (the Acquisition). The Vendor will continue to hold 30% of Hub Media after the completion of the Acquisition. The Consideration (equivalent to S$5,666,252 based on the interbank cross rates of SGD1.00 to USD0.803 as published on the relevant page of The Business Times on 6 March 2013) shall be satisfied in full by the issue and allotment of 6,360,143 new ordinary shares in the capital of the Company (Consideration Shares) at the issue price of SGD0.8909 for each Consideration Share, credited as fully paid, to the Vendor. Hub Media is a media company in global film, content and format distribution. The company is incorporated in Singapore with production capabilities, intellectual property (IP) creation, production management services as well as content and licensing. 

Company Quote

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21 Nov 2014